Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1620 3rd St Lincoln, NE 68502-1914

    • Commercial real estate
    • 4,200 SF
    • 0.28 lot acres
    OFF-MARKET
    Last Sale
    Mar 30, 2020
    $275,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US57-0206705
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1620 3rd St

    Year built
    1977
    Lot size
    0.28 lot acres
    Property size
    4,200 SF
    Zone code
    I1
    Property type
    Commercial real estate
    APN
    10-35-105-017-000
    APU
    1035105017000

    Description

    This Lancaster County industrial flex space, totaling 4,200 square feet, presents a unique opportunity for businesses seeking versatile accommodations. The property is situated south of Salt Creek, conveniently located between "A" Street and South Street, offering excellent accessibility. The single building features two suites, currently fully vacant, with a minimum divisible space of 2,040 square feet and a maximum contiguous space of 4,200 square feet. The building is classified as Class C. Two drive-in doors provide easy access for loading and unloading, complemented by ample paved parking for both employees and customers. This makes the space ideal for a variety of uses, from storage and warehousing to equipment repair and light manufacturing. The property's strategic location and functional design make it an attractive option for businesses seeking a practical and efficient workspace. The entire 4,200 square feet is available for immediate occupancy. Contact us today to learn more about this exceptional opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lincoln
    County
    Lancaster
    State
    Nebraska
    Longitude
    -96.7179
    Latitude
    40.7968
    CBSA code
    30700
    CBSA name
    LINCOLN, NE METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $5,786
    $24,000
    $299,700
    $323,700
    -
    $24,000
    $299,700
    $323,700

    Comparable in this City

    • Value Estimation by Request
      45,643 SF

      2077 21St St

      Restaurants • 45,643 SF
      2077 21St St, Lincoln, NE 68502
      View Details
    • Value Estimation by Request
      0.14 Acres

      2128 15th St

      COMMERCIAL (GENERAL) • 0.14 Acres
      2128 15th St, Lincoln, NE 68502
      View Details
    • Value Estimation by Request
      0.19 Acres

      Lincoln, NE 68502

      COMMERCIAL (GENERAL) • 0.19 Acres
      Lincoln, NE 68502
      View Details
    • Value Estimation by Request
      0.15 Acres

      1415 Plum St

      COMMERCIAL (GENERAL) • 0.15 Acres
      1415 Plum St, Lincoln, NE 68502
      View Details
    • Value Estimation
      $4,490,000
      28,444 SF

      700 Van Dorn St

      COMMERCIAL (GENERAL) • 28,444 SF
      700 Van Dorn St, Lincoln, NE 68502-3352
      View Details
    • Value Estimation
      $3,195,000
      20,641 SF

      4220 Lowell Cir

      COMMERCIAL (GENERAL) • 20,641 SF
      4220 Lowell Cir, Lincoln, NE 68502-5504
      View Details

    Similar Nearby for Sale

    • $375,000

      Lincoln Commercial Land - High Traffic

      Prime .36-acre lot, high visibility, 61,000 VPD.
      4180 14Th St, Lincoln, NE 68502
      View Details
    • $499,999
      2,500 SF

      Lincoln Commercial Multi-Use Property

      Prime Lincoln location, high-potential investment.
      1245 9Th St, Lincoln, NE 68502
      View Details
    • $630,000
      8,006 SF

      I-1 Zoned Storage Facility

      Office, warehouse, and mini storage units on 0.69 acres.
      1418 South 3Rd St, Lincoln, NE 68502
      View Details
    • $925,000

      Lincoln Office/Flex Property For Sale

      7,728 SF office/flex building in central Lincoln.
      3151 South St, Lincoln, NE 68502
      View Details
    • $239,900

      Lincoln Multifamily Investment Opportunity

      Fully rented multifamily property near downtown Lincoln and Memorial Stadium.
      832 Garfield St, Lincoln, NE 68502
      View Details

    Similar Nearby for Lease

    • $2 SF/Yr
      15,762 SF

      High-Traffic Retail Opportunity

      Lincoln, NE: Prime Corner Lot
      4180 14Th St, Lincoln, NE 68502
      View Details
    • $9 SF/Yr
      28,444 SF

      Prime Flex Space - Van Dorn Area

      1,713 SF Flex Space Available Now
      700 Van Dorn St, Lincoln, NE 68502
      View Details
    • $15 SF/Yr
      2,665 SF

      Retail Space in Near South

      Retail space with on-site parking and easy access.
      1624 S 17Th St, Lincoln, NE 68502
      View Details
    • Contact for pricing
      3,906 SF

      Accessible Warehouse Space Near Highway

      Warehouse space with easy highway access in Lincoln, Nebraska.
      603 Van Dorn St, Lincoln, NE 68502
      View Details
    • $900 /Mo
      720 SF

      Basement Office Space For Lease

      Office/Retail space near Downtown Lincoln, Nebraska State Capitol, UNL.
      1415 S 13Th St, Lincoln, NE 68502
      View Details
    • $1,150 /Mo
      1,000 SF

      Warehouse Space Near 9th & A

      1,000 SF warehouse space available for rent.
      510 Washington St, Lincoln, NE 68502
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1620 3rd St
    Lincoln, NE 68502-1914
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.